Government Grants, Loans: Mortgage Insurance_Homes (Uses, Restrictions)

Powered by

Your FREE Online Guide to ALL U.S. Government Grant and Loan Programs for Housing!

Google

Web	Housing.GrantGate.org


Back to Individual / Family	Low Income	Minority	Veterans

Back to Home Page

See AidPage for more information on:
Mortgage Insurance_Homes

Mortgage Insurance_Homes

USES AND USE RESTRICTIONS
		HUD insures lenders against loss on mortgage loans. These loans may be used to finance the purchase of proposed, under construction, or existing one-to four-family housing, as well as to refinance indebtedness on existing housing. Maximum insurable loans are as follows: one-family $200,160; two family $256,248; three-family $309,744; and four-family $384,936; except that the Secretary may increase the preceding maximum dollar amounts on an area-by-area basis to the extent the Secretary deems necessary, after taking into consideration the extent to which moderate and middle income persons have limited housing opportunities in the area due to high prevailing housing sales prices, but in no case may such limits, as so increased, exceed the lesser of (A) 87 percent of the Federal National Mortgage Association's Conforming Loan Limit, or (B) in the case of a one-family residence, 95 percent of the median one-family house price in the area, as determined by the Secretary; in the case of a two-family residence, 107 percent of such median price; in the case of a three-family residence, 130 percent of such median price; or in the case of a four-family residence, 150 percent of such median price. Designated areas of limited housing opportunities and maximum mortgage amounts may be obtained from local HUD Offices.

Ask a question or post a comment...

See AidPage for more information on:
Mortgage Insurance_Homes

Federal Money Retriever® GrantGate®


Program Objectives
Financial Info
	Uses, Restrictions
Eligibility
Funded Projects
Selecting Criteria
Application Process
Matching, Phasing
Post Assistance
Regulations
Contact Info

Own a home?
Consolidate debt...
Refinance and save!

Grant search software.
Free for personal use.

Consolidate Your
Debt & Lower Your
Monthly Payments!

Back to
Individual / Family

Low Income

Minority

Veterans

Back to Home Page

Visit:	· RealEstate.GrantGate.org · Business.GrantGate.org · Health.GrantGate.org	Download Free Trial Grant Software!	^ Top of Page
Individuals, Low Income Persons, Minority and Veterans in need of Government Housing information ! Bookmark this page!

This site is a free service to the public by IDILOGIC - creators of Federal Money Retriever® and GrantGate®. "When it comes to looking for government grant money... Federal Money Retriever is the best of the best." —The Wall Street Journal
Copyright © 1994-2006 IDILOGIC Your Privacy

Click here if you're looking for student financial aid, scholarships, fellowships, federal government grants, and other types of college assistance for students.